May pending home sales hits all-time high: first time over 9,000 homes put under agreement in one month

Please read our statement on the pending sales data that was released on June 12, 2013

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May was a big month for homes going under agreement. In fact, it was the biggest month MAR has ever recorded for both single-family sales and condominiums. Rising home prices and rising interest rates pushed buyers and sellers to come together unlike any month before. Inventory is still very low, but rising prices should encourage more homeowners, who are thinking about selling, to put their homes on the market.

Link to May 2013 Pending Sales News Release

Here are the highlights:

  • Single-family pending home sales were up 83.6% compared to May 2012 – biggest increase since MAR has been tracking the data
  • 9,075 is the most homes ever put under agreement in any one month
  • Condo pending home sales were up 63.2% compared to May 2012
  • 3,469 is the most condos put under agreement in any single month

 

May 2013 Pending
(click on graph to enlarge)

 

Mass. pending home sales hit all time high in April

Despite the low inventory of homes for sale, buyers made a huge push in April to make offers on homes. In fact, the push was so huge that more single-family homes were put under agreement in April 2013 than in any month since MAR began tracking pending home sales data in January 2004. While condos didn’t hit an all-time high, they did hit their 2nd highest total.

Link to April 2013 Pending Sales News Release

 

Here are the highlights:

  • Single-family pending home sales were up 32.8% compared to April 2012 – biggest increase since April 2010 (last month of tax credit)
  • 5,948 is the most homes ever put under agreement in any one month
  • Condo pending home sales were up 37.4% compared to April 2012
  • 2.435 is the 2nd most condos put under agreement in any single month (March 2005 – 2,501 units was the most)

 

April housing chart

Buyer activity in March rebounds as pending home sales up

The snow might have kept some buyers from getting out and making offers on homes in February, but that didn’t happen in March as the number of pending sales went up again. It’s the 22nd time in 23 months that the number of homes put under agreement went up. The number of condos put under agreement went up for the 23 straight month compared to the year before.

Link to March 2013 Pending Sales Release

(Click chart to enlarge)

March 2013 Pending

 

 

 

 

 

 

Here are the highlights:

  • Single-family pending home sales were up 4.6% compared to March 2012
  • Single-family month-to-month pending home sales were up 46% from February 2013
  • Condo pending home sales were up 9.4% compared to March 2012
  • Condo pending month-to-month home sales were up 48% from February 2013

February pending sales up, but mulitple snow storms had impact

Last winter was a ‘non-winter’ and this winter is well…winter! We’re New Englanders and are used to having a real winter, but the multiple weekend snow storms in February did have a bit of an impact on buyer activity.

Photo Credit: Sharon Cekada/Post-Crescent Media
Photo Credit: Sharon Cekada/Post-Crescent Media

However, the snow didn’t keep February pending sales from going up over last year. In fact, February 2013 was the 22nd straight month, homes put under agreement were up over the same month the year before. On a month-to-month basis, single-family pending sales were flat from January 2013 while condominium pending sales were up.
Link to February 2013 pending sales release

 

February 2013 Pending
(click to enlarge)

 

 

 

 

 

 

Here are the highlights:

  • Single-family pending home sales were up 1.1% compared to February 2012
  • Single-family month-to-month pending home sales were flat from January 2013
  • Condo pending home sales were up 11.9% compared to February 2012
  • Condo pending month-to-month home sales were up 5% from January 2013

Mass. pending sales up again in December and for 2012

We hope you had a nice holiday season and a Happy New Year! Today we released the December and year-end 2012 pending home sales report for single-family homes and condominiums in Massachusetts. For the 20th straight month, homes put under agreement were up over the same month last year. For the complete year, the total number of homes put under agreement in 2012 significantly topped the number of homes put under agreement in 2011.

On a month-to-month basis, pending sales were down from November.

Link to release: December/year-end 2012 Pending Sales

Here are the highlights:

  • Single-family pending home sales were up 15.6% compared to December 2011
  • Single-family month-to-month pending home sales were down 21% from November 2012
  • Condo pending home sales were up 5.6% compared to December 2011
  • Condo pending month-to-month home sales were down 14% from October 2012

2012 highlights:

  • 2012 Single-family pending home sales were up 25% compared to 2011 (38,502 homes in 2011 vs. 48,064 homes in 2012)
  • 2012 Condomimium pending home sales were up 26% compared to 2011 (14,893 homes in 2011 vs. 18,706 homes in 2012)

What’s being said in the media: November pending home sales

Here are the articles and posts that resulted from our release of the November 2012 pending home sales report. We will update this post as more articles come in.

Tuesday, December 11, 2012

Pending Massachusetts home sales rose in November
Boston.com

Bay State pending home sales continued positive run in November
Boston Business Journal

Mass. pending home sales rise
Boston Herald

Pending home sales rise again in Nov.
Lowell Sun

Mass. pending home, condo sales rise for 19th straight month
Worcester Telegram & Gazette